Volvo Cars Q3 revenue declines, operating loss prompts plan to cut around 2,500 jobs globally
智通财经2026/10/23 05:36- On October 23, Volvo Cars announced its Q3 2026 results: revenue was SEK 66.9 billion, compared to SEK 86.4 billion in the same period last year; operating profit was negative SEK 5.6 billion, compared to SEK 6.4 billion in the same period last year; basic earnings per share were negative SEK 1.63, compared to SEK 1.75 in the same period last year.
- Among these, Volvo Cars' revenue in the Chinese market dropped by approximately 50% year-on-year.
- The company stated that, building on its previously completed cost program, it plans to further cut SEK 5 billion in indirect expenses and variable costs.
- The related measures include the termination of consultancy contracts, natural attrition, and targeted employee severance schemes. Globally, about 2,500 positions will be structurally reduced, of which 2,000 are located in Sweden.
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